This assignment requires you to use Excel only in question 4. Questions 2 3 and 4 require
that you explain how you determined the answer to the question. Submitting answers without
an explanation for these three questions is not sufficient.
Make sure to use the GB513 Unit 3 Assignment Template (found in your online course) to
submit your answers.
Question 1
A group of investors wants to develop a chain of fast-food restaurants. In determining potential costs
for each facility they must consider among other expenses the average monthly electric bill. They
decide to sample some fast-food restaurants currently operating to estimate the monthly cost of
electricity. They want to be 90% con?dent of their results and want the error of the interval estimate to
be no more than $100. They estimate that such bills range from $600 to $2500. How large a sample
should they take?